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Commodities demand to grow
The Ministry of Industry and Trade has released its forecasts on the demands for neccesary commodities next year.
Based on the anticipation of the Viet Nam Oil and Gas Group (PetroVietnam), the ministry said domestic petroleum demands next year would surge roughly 4-5 per cent against 2011.
Demands for liquified petroleum gas (LPG) were also expected to increase roughly 6-7 per cent to meet the country’s GDP growth rate of 5-7 per cent.
The ministry estimated paddy yields next year would be roughly 41.52 million tonnes while demand would stand at roughly 27.33 million tonnes.
“This will help the country set aside around 14.19 million tonnes of paddy or 7.2 million tonnes of rice for export next year,” the ministry said, adding that relevant agencies must scrutinise the domestic rice market to guide rice exports, especially at the end of this year and the first quarter of the next to ensure adequate supply for the domestic market.
The ministry said it would also work closely with the Ministry of Agriculture and Rural Development to supervise paddy cultivation and yields to avoid an imbalance between supply and demand.
Next year’s production of paper is anticipated to rise roughly 15 per cent against 2011 while demands are expected to rise roughly 10 per cent.
The ministry also expected the real estate market to gradually rebound from the second quarter of next year thanks to increased investment in the field in the wake of economic stability and a lending interest rate cut.
With a rise in steel demand of roughly 5.8 per cent forecast for the Asia-Pacific region next year, the Viet Nam Steel Association also expected the country’s steel output to surge 5-7 per cent to 6.83-6.95 million tonnes, roughly 660,000 tonnes from imports.
With an anticpated steel demand of 6.86 million tonnes for the next year, the steel industry would ensure a balance between demand and supply for the domestic market, the ministry said.
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